Customer Concentration Risk: Celestica relies on a limited number of key customers for a significant portion of its revenue, and the loss of, or reduced business from, any of these customers could materially harm its financial performance.

Global Supply Chain Volatility Risk: The company is highly dependent on the timely availability of components and materials from third-party suppliers, and disruptions due to geopolitical events, natural disasters, or component shortages could impact production schedules and profitability.

Intense Competition Risk: The electronic manufacturing services (EMS) industry is highly competitive, leading to pricing pressure and the potential for reduced margins if Celestica cannot differentiate its services or operate efficiently.